The global economy has started 2018 on a tear.
Manufacturing activity is expanding around the world. Equity markets continue to rally, while the safe havens of bonds and the US dollar have been under pressure.
In Australia, property prices have been falling while the strength in commodity prices thanks to strong global demand has been supportive for the Aussie dollar.
The big question this year at a macro level is what impact there might be from shifts in central bank policy — reductions in rates of asset purchases and interest rate increases.
To help make sense of it all, here’s JPMorgan’s quarterly guide to the markets — a comprehensive walk through of all the activity in the global economy, starting with a focused look at Australia.
Thanks to JPMorgan Asset Management Australia for giving us permission to feature this presentation.